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Francyne Lambert
Lambert Investments, Inc.
310-453-9656
1518 10th Street is an 11 unit apartment building with 10,080 square feet in a great Santa Monica beach location. Asking price per unit at $379,545 and per square foot at $414 is below the average sales comps which have sold at $465,440 per unit and $569 per square foot. This is a real opportunity to add value with lots of square footage, a great unit mix and ample parking. Add even more value to this 11 Unit building with the currently existing vacant non-conforming unit as an ADU. This is an underutilized asset which has been in the same ownership for decades. Soft Story Retrofitting is completed. All Electric building other than gas for Laundry.10 private balconies and lots of storage. Some units have electric fireplaces. Building is clean and the stairways have been resurfaced. Prime Santa Monica beach location in one of the most high demand and desirable rental areas in California and the United States. Santa Monica is known for our beautiful beaches, shops, restaurants and evolving employment hubs. Home to the Santa Monica Pier, vibrant art community of Bergamont Station with numerous galleries and nightlife. The property is in the world-renowned Silicon beach headquarters of many high profile entertainment and technology corporate firms. Located in the desirable Santa Monica Unified School District and close to Santa Monica College. Centrally situated between Santa Monica's happening office parks. Close proximity to the new Metro Station and within a short train ride to many destinations. Santa Monica continues to be a growing vibrant diverse economy. Close to neighboring communities of Prime West Los Angeles, Brentwood, Westwood, Pacific Palisades, Marina Del Rey, Venice Beach, Playa Del Rey and Playa Vista. Please do not disturb tenants.
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Total Bedrooms : 17
Total Baths: 18
Full Baths: 0
Half Baths: 0
Year Built: 1974
Building Area Total: 10,080
Lot Dimensions Source: Vendor Enhanced
Lot Size Acres: 0.1719
Lot Size Dimensions: 50x150
Lot Size Source: Other
Lot Size Square Feet: 7490
Original List Price: 4,175,000
Listing Contract Date: 2023-11-07
Listing Agreement: Exclusive Right To Sell
Parcel Number: 4282029003
Garage Description: Underground,Garage,Tandem
Lease Term: Negotiable
Source Listing Status: Active
Source Neighborhood: C14 - Santa Monica
Postal Code Plus 4: 2832
Directions: Between Santa Monica Blvd, and Colorado Blvd
Zoning: SMR3*
Source Property Type: Residential Income
Area: C14 - Santa Monica
Property Age: 50
Year Built Source: Other
Total Square Feet Living: 10080
Levels or Stories: Two
Building Total Stories: 2
Address | Estimate | Bed | Bath | Sq. Ft | Lot Size |
---|---|---|---|---|---|
1528 11th Street, Santa Monica, CA,90401 | $2,600,000 | -- | -- | 6,414 | 7489 Sqft |
1755 Ocean Avenue #PH1003, Santa Monica, CA,90401 | $3,500,000 | 2 | 2 | 1,736 | 37909 Sqft |
1755 Ocean Avenue #503, Santa Monica, CA,90401 | $3,995,000 | 3 | 3 | 2,096 | 37909 Sqft |
1705 Ocean Avenue #509, Santa Monica, CA,90401 | $2,199,000 | 2 | 2 | 1,324 | 40870 Sqft |
1705 Ocean Avenue #302, Santa Monica, CA,90401 | $2,098,000 | 2 | 2 | 1,552 | 40870 Sqft |
1417 10th Street, Santa Monica, CA,90401 | $2,899,000 | 8 | -- | 4,541 | 7507 Sqft |
1755 Ocean Avenue #602, Santa Monica, CA,90401 | $2,095,000 | 2 | 2 | 1,560 | -- |
1755 Ocean Avenue #414, Santa Monica, CA,90401 | $3,400,000 | 2 | 2 | 1,576 | -- |
1755 Ocean Avenue #314, Santa Monica, CA,90401 | $1,895,000 | 2 | 1 | 1,390 | -- |
1323 11th Street, Santa Monica, CA,90401 | $4,800,000 | 13 | -- | 7,098 | 7485 Sqft |
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ByOwner last updated this listing 05/06/2024 @ 19:59
MLS: 23329815
LISTED BY: Francyne Lambert, Lambert Investments, Inc.
SOURCE: CRMLS
Buyer Agency Compensation: 2%
Buyer Agency Description: The listing broker's offer of compensation is made only to participants of the MLS where the listing is filed and if applicable, to participants of reciprocating MLS's as set forth in Association/MLS reciprocal agreements.